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2010-09-23
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Minimum Financial Requirements for Futures Commission Merchants and Introducing Brokers; Amendments to the Provisions Governing Subordination Agreements Included in the Net Capital of a Futures Commission Merchant or Independent Introducing Broker
Proposed Rules
D09002ee1bdfaa059
D09002ee1bdfaa0dc
United States
Commodity Futures Trading Commission
originator
org
United States Government Agency or Subagency
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is proposing to amend certain provisions of Regulation 1.17(h) which governs the net capital treatment of subordination agreements. Currently, futures commission merchants (``FCMs'') and independent introducing brokers (``IBIs'') that are members of a self- regulatory organization (``SRO''--i.e., a contract market or the National Futures Association) and that are securities brokers or dealers registered with the Securities and Exchange Commission (''SEC'') are required to obtain the approval of both a futures SRO and a securities designated examining authority (``DEA'') for any proposed subordination agreement, proposed prepayment of a subordinated loan, or proposed reduction in the outstanding principal balance of a secured demand note. The proposed amendments would ease the regulatory burden imposed upon SROs, FCMs, and IBIs by allowing SROs, subject to the conditions set forth below, to rely on a DEA's review and approval of a proposed subordination agreement, a proposed prepayment of a subordinated loan, or a proposed reduction in the outstanding principal balance of a secured demand note submitted to the DEA by an FCM or IBI.
65 FR 35304
https://www.govinfo.gov/app/details/FR-2000-06-02/00-13606
00-13606
fr02jn00-20
RIN 3038-AB54
6351-01-U
https://www.govinfo.gov/app/details/FR-2000-06-02/00-13606
https://www.govinfo.gov/content/pkg/FR-2000-06-02/html/00-13606.htm
https://www.govinfo.gov/content/pkg/FR-2000-06-02/pdf/00-13606.pdf
Brokers
Commodity Futures
4 p.
35304
35307
65 FR 35304
Code of Federal Regulations
Title 17 Part 1
17 CFR Part 1
Regulation Identification Number 3038-AB54
RIN 3038-AB54
Minimum Financial Requirements for Futures Commission Merchants and Introducing Brokers; Amendments to the Provisions Governing Subordination Agreements Included in the Net Capital of a Futures Commission Merchant or Independent Introducing Broker; Federal Register Vol. 65, Issue
PRORULE
00-13606
COMMODITY FUTURES TRADING COMMISSION
2000-07-03
6351-01-U
00-13606
Proposed rules.
The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is proposing to amend certain provisions of Regulation 1.17(h) which governs the net capital treatment of subordination agreements. Currently, futures commission merchants (``FCMs'') and independent introducing brokers (``IBIs'') that are members of a self- regulatory organization (``SRO''--i.e., a contract market or the National Futures Association) and that are securities brokers or dealers registered with the Securities and Exchange Commission (''SEC'') are required to obtain the approval of both a futures SRO and a securities designated examining authority (``DEA'') for any proposed subordination agreement, proposed prepayment of a subordinated loan, or proposed reduction in the outstanding principal balance of a secured demand note. The proposed amendments would ease the regulatory burden imposed upon SROs, FCMs, and IBIs by allowing SROs, subject to the conditions set forth below, to rely on a DEA's review and approval of a proposed subordination agreement, a proposed prepayment of a subordinated loan, or a proposed reduction in the outstanding principal balance of a secured demand note submitted to the DEA by an FCM or IBI.
Comments must be received on or before July 3, 2000.
Thomas J. Smith, Special Counsel, Division of Trading and Markets, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street, NW, Washington, DC 20581; telephone (202) 418-5495; electronic mail tsmith@cftc.gov; or Henry J. Matecki, Financial Audit and Review Branch, Commodity Futures Trading Commission, 300 S. Riverside Plaza, Room 1600-N, Chicago, IL 60606; telephone (312) 886-3217; electronic mail hmatecki@cftc.gov.
Brokers
Commodity Futures
Commodity Exchange Act:
Futures commission merchants and introducing brokers; minimum financial requirements
Subordination agreements; net capital treatment,
hmatecki@cftc.gov
secretary@cftc.gov
tsmith@cftc.gov
Federal Register
Vol. 65, no. 107
Office of the Federal Register, National Archives and Records Administration
2000-06-02
continuing
daily
deposited
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310 p.
Table of Contents:
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https://www.govinfo.gov/app/details/FR-2000-06-02
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0097-6326
0042-1219
0364-1406
769-004-00000-9
000582072
f:fr02jn00
https://www.govinfo.gov/app/details/FR-2000-06-02
https://www.govinfo.gov/content/pkg/FR-2000-06-02/pdf/FR-2000-06-02.pdf
https://www.govinfo.gov/content/pkg/FR-2000-06-02/xml/FR-2000-06-02.xml
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2010-09-23
2023-05-05
FR-2000-06-02
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FR-2000-06-02
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